Parramatta Stadium has been nominated as one of three potential Sydney sites to host AFC Asian Cup in 2015.
With Melbourne, Brisbane, Canberra and the Gold Coast also bidding for games, there will be only two venues selected in Sydney.
The decision means Parramatta’s boutique 20,000 seat stadium will go head to head with Sydney’s Allianz Stadium (44,000 seats) and Sydney Olympic Park’s ANZ Stadium (83,000 seats) for hosting rights.
If the Asian Cup is awarded to Parramatta it will represent the biggest football tournament of any code to be staged in western Sydney.
Despite its grand size and booming potential the tournament has struggled for broader public appeal in recent years making Parramatta's smaller stadium an early front-runner for hosting rights.
At Tuesday's Asian Cup launch in Melbourne, Football Federation Australia were quick to point out the major benefits the tournament will bring each city's business, tourism and retail sectors.
Parramatta Chamber of Commerce president Stephanie Dale said it would further boost the city's profile to large Asian commercial entities.
"Asia represents a massive opportunity for Parramatta and Sydney's west," Ms Dale said.
"In the short term a tournament like this will be a big capital injection for the city's hospitality and retail stores."
As host, Australia automatically qualifies for the Asian Cup and will be joined by 2011 Cup champions Japan, semi-finalist South Korea and AFC Challenge Cup winners North Korea.
Other major trading nations such as China, Vietnam, the United Arab Emirates and Thailand could also qualify for the tournament meaning business opportunities in Parramatta would be at an all-time high.